projecteverest

Experiment adopted

[FEB 19][COLLECTION] Online banking

Lean Phase: customer relationships, key activities

 

Offer testing/Value proposition  


Assumption:

  1. 20% of Timorese businesses use online banking payment systems.

  2. Of the 20% of businesses that do online banking, 75% would be willing to pay PEV through online banking.  



Time Box:

1 week

 

Success Metric:

 

Metric

Number of businesses that do online banking and are willing to pay PEV with automatic payments.

Proportion of those interviewed that have online banking

 

Green Light- Proceed (What is the next move given successful validation?)

Assess the viability of online payment, ie. type of bank account needed.

 

Success point

>20% of people have online banking.

And

>75% of people who have online bank accounts would pay online.

And

>15% of the market would pay online.

 

Orange Light- Optimise (What iterative approach can be conducted? Potential ‘next move’ or variation on this experiment?)Adjust parameters measured, maybe the green light is set too high or red Light too low. Maybe people prefer to pay physically at the bank.

 

20%> but >10% of people have online banking.

Or

75%> but >50% of people who have online bank accounts would pay online.

Or

15%> but >5% of the market would pay online

 

Failure Point (What % of negative outcomes is considered failure? Why?)

 

<10% of people have online banking.

Or

<50% of people who have online bank accounts would pay online.

And

<5% of the market would pay online

 

Red Light- Failure Protocol (What is the next move given that you have successfully validated a hypothesis in this instance?) Continue using cash payments. Come up with more efficient payment system that isn’t online banking.

 

Experiment build:

(What kind of experiment will you use? What method?)

Have an open ended conversation about attitudes towards online payments and internet banking to better understand the viability of online payments for ERS services.

The experiment is designed to be flexible in it’s conduction. In can be incorporated with other experiments to save time.

Experiment questions

 

  1. Do you have access to the internet?

  2. How do you store your money?(If Bank account say YES to Q5)

  3. How do you carry out your payments?

  4. Is there a better way to pay people?

  5. Do you currently have a bank account?  (If YES skip to Q10)

  6. Would you make a bank account?

  7. Do you know what online banking is?

  8. Do you know anybody/Businesses that do online banking?

  9. How do you think it will affect you?

  10. Which bank do you use?

  11. Is it good? Do you like it?

  12. How do you feel about online payments?

  13. How do you feel about automatic payments?

edited on 28th January 2019, 02:01 by Harry Telford

Rose Gooding 3 weeks ago

Status label added: Proposed Experiment

Reply 0

Fiona Aaron 2 weeks ago

How many people/businesses are you hoping to survey for this experiment?

Users tagged:

Reply 0

Rose Gooding 2 weeks ago

For this one it will be as many as possible. For every meeting from now it will be included as a question in order to get the data, and its simply a relatively easy question to include. I believe 'Expensive' hotels represent a large opportunity here. A minimum of 30 stakeholders would be a good start.

Reply 0

Rose Gooding 2 weeks ago

Status label added: Experiment adopted

Status label removed: Proposed Experiment

Reply 0

Beau Rosenberg 5 days ago

After extensive ,Offer and price testing we have not found any businesses that does online banking. However, our main focus in collection is asking small hotels and restaurants which may only be smaller fish. Further testing and surveying is needed with larger "fish" such as Expensive hotels, or big plastic waste companies before we can conclude if businesses use online banking.
Furthermore, Online research has shown an inconclusive result, as BNU has an online mobile app for businesses and individuals but we are unsure as to who can use it.

Reply 0

Beau Rosenberg 5 days ago

After extensive ,Offer and price testing we have not found any businesses that does online banking. However, our main focus in collection is asking small hotels and restaurants which may only be smaller fish. Further testing and surveying is needed with larger "fish" such as Expensive hotels, or big plastic waste companies before we can conclude if businesses use online banking.
Furthermore, Online research has shown an inconclusive result, as BNU has an online mobile app for businesses and individuals but we are unsure as to who can use it.

Reply 0

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